Branding_Chs 5 & 6

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Transcript of Branding_Chs 5 & 6

Strategic Brand ManagementSTEP 1: Conduct an In-Depth AnalysisCustomer segmentsSTEP 2: Identify All Aspirational AssociationsGroup them and label the groupsSTEP 4: Create the Brand EssenceA single thought that captures the core identity of the brandSTEP 3: Prioritize Brand Vision ElementsEstablish which are the core elements and which will be extended elementsHow do you adapt an existing brand vision?Emphasize different elements of the brand visionSTEP 5: Develop the Brand PositionPosition according to your current strengthsORFocus on your aspirational associations?Dr. Mike BreazealeChapters 5 and 6The Organization and Its Higher Purpose Differentiate /Get Beyond Functional Benefits

What is the process for creating a brand vision?CompetitorsMarket trendsEnvironmental forcesCurrent strengths and weaknessesBusiness strategyBrand Associations:Attributes, functional benefits, applications, user imagery, brand personality, organizational programs and values, as well as self-expressive emotional, or social benefits; should represent points of differentiationPoint of Parity (POP)Point of Differentiation (POD)Associations that are not necessarily unique to the brand but may be shared by other brands; usually not the reason to choose a brand, but their absence can be the reason to drop a brand.Attributes or benefits consumers strongly associate with a brand, positively evaluate, and believe they could not find to the same extent with a competing brand (points where your band claims superiority or exclusivity within the category)The core elements will be the most impactful and will drive brand-building activities.BMW: The Ultimate Driving MachineNike: Just Do It!Amazon: The World's Most Customer-Centric RetailerIn-Depth AnalysisIdentify All Aspirational AssociationsPrioritize Brand Vision ElementsCreate the Brand EssenceDevelop the Brand PositionIn-Depth AnalysisSegments?Competitors?Market trends?Environmental factors?Strengths & weaknessesBusiness StrategyIdentify All Aspirational AssociationsPrioritize Brand Vision ElementsCreate the Brand EssenceThe Real ThingCoke Adds LifeThe Pause That RefreshesThings Go Better With CokeAlways Coca-ColaOpen HappinessShare a CokeDevelop the Brand PositionThe most recognized soft-drink brand in the world?Adaptable to Various ContextsSpin the brand story for the local marketAugment the vision with additional vision elementsEXTREMECustomerServiceStrategic ImperativesBrand PersonalityA brand is a storythat comes with a promiseand a set of expectations.Proof PointsInvestment in an asset, a skill, or a program that is essential if a brand promise is to be delivered uponThe set of human characteristics associated with a brand - Scott Talgo"A brand that captures your mind gains behavior.A brand that captures your heart gains commitment."